We consider statistical inference in the presence of serial dependence. The main focus is on use of statistics that are constructed as if no dependence were believed present, and are asymptotically normal in the presence of dependence. Typically the variance in the limit distribution is affected...

The tax-payer-as-gambler (TAG) model of tax non-compliance is the classic vehicle for providing some simple insights. Under fairly general conditions this model supports the following four propositions: (1) if the rate of return to evasion is positive everyone evades tax; (2) people with higher...

We show that it is possible to adapt to nonparametric disturbance autocorrelation in time series regression in the presence of long memory in both regressors and disturbances by using a smoothed nonparametric spectrum estimate in frequency-domain generalized least squares. When the collective...

Whether or not the marginal product of capital (MPK) differs across countries is a question that keeps coming up in discussions of comparative economic development and patterns of capital flows. We use easily accessible macroeconomic data to shed light on this issue, and find that MPKs are...

Aim: To assess the impact of early intervention (EI) services on service costs for people with first-episode psychosis. Methods: A decision model was constructed to map the care pathways following input from EI services and from standard care. A Markov process was used to run the model over 18...

Historical national account data are often plagued by quality problems, and rivaling series imply different business cycle chronologies. This problem is particularly grave for Germany before World War I [Burhop, C., Wolff, G.B., 2005. A compromise estimate of net national product and the...

The paper develops a taxonomy of the globalisation of innovation based on three categories: (a) the international exploitation of technology produced on a national basis; (b) the global generation of innovations; (c) the global technological collaborations. The most evident changes implied by...

The increasing appreciation of the role of multinational corporations (MNCs) in the generation of technology across national boundaries has been facilitated by the recent trend for MNCs to establish internal and external networks for innovation. The development of cross-border corporate...

Firms often delegate important decisions to committees which are set up specifically for that purpose; for example selection committees. We analyze the equilibrium behavior of a game in which committee members (the players) interview candidates sequentially, either hiring or going on to the next...

The paper presents a new meta data set covering 13 experiments on the social learning games by Bikhchandani, Hirshleifer, and Welch (1992). The large amount of data makes it possible to estimate the empirically optimal action for a large variety of decision situations and ask about the economic...